The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MILAN, Italy — Qatari investment vehicle Mayhoola for Investments is a long-term shareholder in Valentino and could help the Italian fashion group grow further, Valentino Chief Executive Stefano Sassi said on Thursday.
"We have a long-term shareholder that I don't think has any need to sell," Sassi said at a presentation in Milan. "I don't rule out that the group could be expanded further, we need to always keep an eye on the market because critical mass is important."
Mayhoola, which acquired Valentino in 2012, has examined plans to list the designer on Milan's stock market, sources told Reuters in late 2017, although the company has since said it had no such plans.
By Silvia Aloisi; editor: James Mackenzie.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.
After growing the brand’s annual sales to nearly €2.5 billion, the star designer has been locked in a thorny contract negotiation with owner LVMH that could lead to his exit, sources say. BoF breaks down what Slimane brought to Celine and what his departure could mean.